formula sheet for midterm ii

formula sheet for midterm ii - F ORM U LA PAGE – F I NA...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: F ORM U LA PAGE – F I NA 4210 – Valuation NOPLAT = net operating profit less adjusted taxes ROIC = return on invested capital IR = investment rate g = growth FCF = free cash f low FCF = N OPLAT – net investment = NOPLAT – (NOPLAT * IR) = NOPLAT * (1 – IR) g = ROIC * IR IR = g / ROIC SO: FCF = N OPLAT * ( 1 – (g/ROIC)) A ND: Valuet = N OPLAT t+1 * (1 – (g/ROIC)) / (WACC – g) ******* FCF = NOPLAT + Noncash operating expenses – investments in invested capital NOPLAT = (Revenues – operating costs – depreciation) * (1 – tax rate) Return on Assets = net income /assets Return on equity = net income / equity Invested Capital = operating assets – operating liabilities Return on invested capital = noplat / invested capital Operating margin = operating profit / revenues A fter tax return on sales = NOPLAT / revenue = operating margin * (1-tax rate) Capital tu rnover = revenues / invested capital ...
View Full Document

This note was uploaded on 06/06/2011 for the course FINA 4210 taught by Professor Staff during the Spring '08 term at UGA.

Page1 / 2

formula sheet for midterm ii - F ORM U LA PAGE – F I NA...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online